Research On The Relationship Between Accounting Information Quality And Investment Efficiency Of Listed Companies

Investment is the core of a company's management,the level of investment efficiency is also concerned by various stakeholders,to a certain extent,the quality of accounting information affects the investment efficiency of the company.Although China is constantly updating and improving the accounting standards and disclosure system of accounting information,the accounting information quality of some enterprises have improved,but generally speaking,the quality of accounting information is not good.This is an important reason for the inefficiency of enterprises' investment.Therefore,it is necessary to find effective measures to improve the quality of accounting information and investment efficiency.This paper uses three methods which are literature review,data analysis and empirical research,refers to the current research on the relationship between accounting information quality and investment efficiency,and unites some relevant theories to analyze the mechanism which the accounting information quality effect on the investment efficiency.The status of accounting information quality is summarized from the disclosure rating and the inspection of accounting information quality.And the research status of China's investment is summarized from the perspective of investment scale and investment source.According to the combination between the pricing functions and governance functions of accounting information,this paper analyzes the probable impact of accounting information quality on investment efficiency.On this basis,this paper combined the empirical data of listed companies,built an empirical model and replaced the accounting information quality with earnings quality,analyzed the relationship between accounting information quality and investment efficiency.In the empirical analysis,it shows that there is a significant correlation between the accounting information quality and the investment efficiency.Investment efficiency is The higher the quality of accounting information,the higher the investment efficiency.Finally,based on the empirical results and combined with the status' s analysis of the accounting information quality and investment efficiency in China'slisted companies,this paper made five countermeasures on improving the accounting information quality to improving the investment efficiency,hoping the development of market economy can be healthy and steady.First,establish and perfect the internal governance structure of the company.Second,establish and perfect the management mechanism of the enterprises' accountants.Third,improve the incentive mode of the management.Fourth,strengthen the internal and external auditing and supervision of accounting information.And fifth,innovate the management ways of accounting information.